Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


PNC Bank buys BBVA

Recommended Posts

Dear Valued Client,

Today it was announced that pending regulatory approval, BBVA USA will be acquired by PNC, a top 10 financial services company headquartered in Pittsburgh, Pennsylvania.

What this means for BBVA USA customers

This is exciting news for our many stakeholders, but especially so for our customers as it means you can expect even more opportunities as part of an even larger U.S. financial institution. This includes the introduction of market-leading products, services and more.

What BBVA USA customers need to do

The period between today’s announcement and the close of the acquisition is expected to be anywhere from six to nine months or more. During that time, BBVA USA customers will continue to interact with the bank as they always have. In short, it's business as usual for our customers which means that the retail branch, private banker or relationship manager you work with, will continue to be your primary point of contact.

How BBVA USA will communicate

We understand changes like this can cause anxiety. We want to assure you that BBVA USA and PNC are committed to working together throughout this process, and that we will provide ongoing, transparent and open communication so you know what to expect each step of the way. Thank you for your support and trust in BBVA USA. We value and appreciate your business and you have our commitment that we will walk through this process with you.

Sincerely,

Javier Rodríguez Soler
President and CEO of BBVA USA

Share this post


Link to post
Share on other sites

I think BBVA has only one branch for the entire Los Angeles region.  If PNC is really interested in expanding into Southern California, they could double their L.A. branch network with only one more branch.  😕

Edited by Burgerwars

Share this post


Link to post
Share on other sites
On 11/16/2020 at 3:14 PM, Occam said:

Biggest upside:

 

Will they rename this bank "Truist" after the acquisition?

No.

Wasn't Truist the SunTrust/BBT merger? 

Share this post


Link to post
Share on other sites

Something tells me this is more along the lines of the USA arm of ING being sold to Capital One. European banks seem to be stepping back from the US market.

Share this post


Link to post
Share on other sites
12 hours ago, IndyPoolPlayer said:

Something tells me this is more along the lines of the USA arm of ING being sold to Capital One. European banks seem to be stepping back from the US market.

BNP doesn't seem to want to let go of Bank of the West.  HSBC probably won't leave because a world footprint is their trademark.  But Rabobank did sell their Rabobank network in California to Mechanics Bank.  Only time will tell.  Maybe next year, with things changing in D.C., foreign banks and companies will feel more comfortable here.  

Share this post


Link to post
Share on other sites
On 11/17/2020 at 2:52 AM, RehabbingANDBlabbing said:

They'll probably rename it Banksiest instead.

If you were a marketing consultant you could have been paid $50k for that.

Share this post


Link to post
Share on other sites

only interaction I've had with bbva was back with the 5% NBA card; it only lasted a couple of years before they realized they were losing their donkeyballs on it.

 

only interaction I've had with PNC was with the Lifespring Health Visa which ended when the cashback was thefted by the Lifespring Health folks when it folded. PNC made us all whole once they realized they got screwed.

 

So the new name should be LifeSpringDonkeyBalls.

Share this post


Link to post
Share on other sites
On 11/18/2020 at 6:46 AM, Burgerwars said:

Maybe next year, with things changing in D.C., foreign banks and companies will feel more comfortable here.  

Or the other way around. Its hard telling until the players are in their places and confirmed. I'm almost certain now the CFPB will regrow its teeth again.

Share this post


Link to post
Share on other sites
3 hours ago, centex said:

Be aware of the law of unintended consequence...molly-coddle those too stupid to read the terms for the credit vehicle they sought and the vehicles become far more challenging to access.

In other words, if some people (be they merchants, revolvers, unaware spenders) aren't paying "enough" in interest and fees, who will pay for our credit card rewards??? If the sweet spots in the system are removed, there go the rewards! 

 

Look at the Australian experience. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.





  • Member Statistics

    • Total Members
      179,636
    • Most Online
      2,046

    Newest Member
    CoachKen
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines